Mercia invests in Warwick Acoustics and Axis Spine to support growth

Mercia Asset Management PLC, headquartered in Henley-in-Arden, Warwickshire, has announced direct investments in two of its portfolio companies: Warwick Acoustics Limited and Axis Spine Technologies Limited.

Warwick Acoustics, based in Nuneaton, Warwickshire, specialises in developing audio systems for the automotive and personal audio markets. The company has secured £6.2 million in new funding, which includes a £1.0 million direct investment from Mercia. The additional capital will be used to equip a new research and development and assembly facility, as well as to fund working capital for automotive inventory build. Following this funding round, Mercia holds a fully diluted 31.7% direct investment in Warwick Acoustics.

Axis Spine Technologies, a medical device company based in St Albans, Hertfordshire, focuses on modular spinal implant systems. The company has completed a £6.6 million funding round, which includes a £2.0 million direct investment from Mercia. The funds will support the company’s sales growth. After this investment, Mercia holds a fully diluted 14.5% direct investment in Axis Spine.

Dr Mark Payton, CEO of Mercia Asset Management PLC, commented, “these follow on investments into Warwick Acoustics and Axis Spine highlight the continuing commercial progress and resilience of our direct investment portfolio, together with the continued appeal of these technology led companies for growth-focused co-investors. In a challenging macroeconomic environment, the ongoing co-investor interest in Mercia’s direct investment portfolio validates both their enterprise values and commercial relevance.”